Why Was This Man Granted License By The Gov Official?

Congrats! Yuexiu issues first business license for foreign-invested firm (FIE) to our treasured client and friend!

The director of Commerce of Department of Yuexiu granted the license to Sabri Abdelazim

On Sept 19, Yuexiu District in Guangzhou granted its first business license for foreign-invested enterprises (FIE), after the State Administration for Market Regulation recently delegated business registration power to FIEs to the district.

The license went to Guangzhou Sabri Trade Co Ltd, marking the beginning of FIE registration in Yuexiu.

There are currently 7,213 foreign-funded enterprises in Yuexiu, ranking second among all Guangzhou districts.

With the FIE registration authority, the district is expected to see further growth of foreign-funded enterprises in the future.

As long as the materials are complete and in compliance with the legal form, the registration process can be done in two hours and the business license can be obtained on the spot, according to Qiu Yu, an official from the Yuexiu administration for market regulation.

He mentioned that in the past, FIE registration required the approval of the provincial and municipal bureaus first, and then it could be done at the district level. Now, however, all of the steps can be done in Yuexiu.

HOW DOES IT FEEL?

Sabri Abdelazim, one of HACOS’s valuable clients and friends, received the business license and said that it is his first company in Guangzhou which is engaged in electronic products trade.

The receiving of the business license went very smoothly, he said, which he considers to be a good start for his business in China.

WHAT’S NEW?

To better serve investors, Yuexiu has set up a special registration department for FIEs in the district’s administration for market regulation and opened a special window for foreign investment services.

In addition, it has selected a group of backbone officials familiar with foreign languages, as well as international economic and trade policies, to provide dedicated guidance and full-time assistance and offer customized “service packages” for foreign investors.

TREND

China has decided to further simplify procedures for setting up FIE to promote high-standard facilitation of free trade and investment last year.

A single form and one-stop services will be introduced for the business filing and registration of FIE.

The whole process will be conducted online and free of charge, without the need for paperwork or appearance in person. It is expected to significantly shorten the time required for FIE-related business procedures.

WHY SET UP A CO?

More and more foreigners choose to establish a company in China, not just for the preferential environment, but for the Work Permit.

Though China has loosened the restriction of residence policy, it is still strict for many foreigners and has caused problems.

With the implementation of various favorable entrepreneurial policies and subsidies, the opening of foreign-funded companies has become one of the best ways to apply for the permit.

HOW TO APPLY?

If you want to apply for a residence permit by setting up a FIE, you shall:

Establish a Chinese Company
Certificate of Work Permit
Apply for Z-visa
Pass the Medical Examination
Apply for Foreigner’s Work Permit Card
Apply for Residence Permit

Click the following links to know more!

WHY HACOS?

HACOS, a business services company, focuses on providing comprehensive services solutions for global foreign trade industry.

“Excellent Service”, the principle cultural core of HACOS. We’re committed to providing the best service solutions for internal & external clients through internal training system, information management system and learning organization.

Until now, we have helped and served clients from over 120 countries and regions around the world, and therein there are over 2,000 enterprises are in-depth cooperation.